Payment processing company Stripe raised $6.5 billion in its Series I preferred stock private placement, which valued the company at over $50 billion and marked one of the largest private stock sales in U.S. history. Primary investors include existing Stripe shareholders—Andreessen Horowitz, Baillie Gifford, Founders Fund, General Catalyst, MSD Partners and Thrive Capital—as well as new investors including GIC, Goldman Sachs Asset and Wealth Management and Temasek.
The funds raised will be used to provide liquidity to current and former employees, giving them access to value they have helped create, as well as address employee withholding tax obligations related to equity awards.
Stripe is a technology company which enables businesses, from new startups to public companies, to use its software to accept payments and manage their businesses online.
The S&C corporate team advising Goldman Sachs as sole placement agent included John Savva, John Estes, Jared Fishman, Alexandra Smith, Matthew Deorocki, Cameron Teschuk and Jin Lee. Nader Mousavi, Mark Schenkel, Julia Caffery and Hedwig Zheng advised on intellectual property matters. Ryan Logan advised on privacy matters. Heather Coleman and Rebecca Rabinowitz on employment and compensation matters.
Subscribe to stay current on S&C Insights.
Sending an e-mail through this web site does not create an attorney-client relationship. You should not send us any information through this web site that you would want treated confidentially.